JEFFERSON CITY - State Budget Director Linda Luebbering announced today that July 2015 net general revenue collections decreased 1.2 percent compared to July 2014, from $512.9 million last year to $506.9 million this year.
GROSS COLLECTIONS BY TAX TYPE
Individual income tax collections
Increased 5.1 percent for the fiscal year, from $373.4 million last year to $392.3 million this year.
Sales and use tax collections
Decreased 1.8 percent for the fiscal year from $150.9 million last year to $148.2 million this year.
Corporate income and corporate franchise tax collections
Increased 19.3 percent for the fiscal year, from $17.2 million last year to $20.6 million this year.
All other collections
Decreased 24.7 percent for the fiscal year, from $20.4 million last year to $15.3 million this year.
Refunds
Increased 42.2 percent for the fiscal year, from $49.0 million last year to $69.6 million this year.
Director Luebbering also noted the General Revenue Fund borrowed $200 million from the Budget Reserve Fund for cash flow purposes. The funds will be repaid before the Constitutional deadline of May 15, 2016.